Security Measures and Obsolescence Mitigation for Costly Inventories and Equipment Spare Parts

UNIVERSITY NAME
Student’s name
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Resource Planning and Management
Question 1. a)

Costly inventories and buffer stock are essential resource material for a factory. The inventories
and the materials require proper storage, security and arrangement. The following are various
security measures and arrangement for costly inventories and buffer stock. (Delmas and Pekovic,
2015)
Secured location of the warehouse.
The location should be free from any security threat such as access by burglars and thieves .The
area should be free from disaster that may be posed as a result of natural calamities such as
flooding, earthquakes and tsunami.
Locked stores
The warehouse should have limited access and only authorized working personnel should access
the premise during authorized working hours; this reduces threat that could have been inflicted to
an unauthorized people or personnel by the hazardous stock. (Ben-Zvi and Lechler, 2014)
Stock taking
The factory administration should maintain regular weekly inventories stock taking to ensure
maintenance check in number of the stocks according to production demands and avoid wastage.
Security alarms
The warehouse premise should be under 24 hours security surveillance by closed circuit cameras
and a well trained human security personnel .This ensures there is 24 hours monitoring of the
persons accessing the premise. (Mohdzain, White and Ward, 2012)
Training employees about security

Security education to the personnel accessing the premise is mandatory. The personnel having
access to the premise should be enlightened in the ways of ensuring their safety and security of
the inventories.
Inventory insurance
The factory should also undertake the insurance cover to cater for expenses that may results from
destruction caused by natural calamities such as earthquakes, tsunami and floods.
Question 1, b
Recommendations for obsolescence mitigation of stock of volatile materials and equipment
spare parts.
The organization should conduct consistent preventive maintenance measures of volatile stock
and equipment spare parts. This will ensure updated check on their performance efficiency .in
addition, the organization should also carry out training to support legacy equipment, the
working personnel and the newly employed should be consistently enlightened about the
performance of the machine that they handle. This ensures updated performance of the machine
even with the retirement of the aged personnel. (Gilbert, 2007)
Planning for spare replacement and legacy repairs, monitoring of spare parts is also essential for
updated performance of the machine, therefore a third party specialist should be given the task to
maintain the spare parts and ensure the spare parts are in the right place at the right time and also
ensures proper condition and supply of spare parts is maintained. This can also help to reduce the